New England Asset Management Inc. Grows Position in Cigna Group $CI

Key Points

• New England Asset Management Inc. increased its position in Cigna Group by 22.1% in Q1, bringing its total holdings to 23,000 shares, valued at approximately $7.57 million.
• Insider Nicole S. Jones sold 28,526 shares of Cigna Group at an average price of $300, resulting in a total transaction of about $8.56 million, decreasing ownership by over 52%.
• Cigna Group reported $7.20 EPS for the last quarter, exceeding expectations and marking an 11% year-over-year increase in revenue.

New England Asset Management Inc. increased its position in Cigna Group (NYSE:CI - Free Report) by 22.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,000 shares of the health services provider's stock after purchasing an additional 4,165 shares during the quarter. Cigna Group makes up about 1.2% of New England Asset Management Inc.'s investment portfolio, making the stock its 20th largest holding. New England Asset Management Inc.'s holdings in Cigna Group were worth $7,567,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CI. Family Legacy Inc. boosted its position in Cigna Group by 0.5% during the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after acquiring an additional 31 shares in the last quarter. Impact Investors Inc lifted its holdings in shares of Cigna Group by 1.6% during the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after purchasing an additional 31 shares during the last quarter. Mission Wealth Management LP raised its stake in Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock worth $691,000 after acquiring an additional 32 shares during the last quarter. Westend Capital Management LLC raised its stake in Cigna Group by 8.1% in the 1st quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock worth $140,000 after acquiring an additional 32 shares during the last quarter. Finally, Moody National Bank Trust Division raised its stake in Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock worth $1,509,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Transactions at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the sale, the insider directly owned 25,648 shares in the company, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and set a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. Guggenheim reaffirmed a "buy" rating and set a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the company a "buy" rating in a research report on Tuesday, August 5th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Cigna Group presently has an average rating of "Buy" and an average target price of $374.76.

Cigna Group Stock Up 1.0%

Shares of NYSE CI opened at $303.35 on Friday. The stock has a 50-day moving average price of $298.11 and a two-hundred day moving average price of $311.91. Cigna Group has a 12 month low of $256.89 and a 12 month high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market cap of $80.97 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.88 and a beta of 0.48.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter last year, the firm posted $6.72 EPS. The company's quarterly revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's payout ratio is currently 32.97%.

About Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.

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